CALGARY, ALBERTA–(Marketwired – March 28, 2016) – PetroFrontier Corp. (“PetroFrontier” or the “Corporation”) (TSX VENTURE:PFC) announces that effective March 24, 2016, Mr. Earl Scott is no longer employed by PetroFrontier as President and CEO and has resigned as a Director of the Corporation and its two Australian subsidiaries. The Board of Directors of the Corporation thanks Mr. Scott for his contributions to the Corporation both in Australia and Canada and wishes him success in his future endeavours.
The Corporation also announces that Mr. Robert J. Iverach, PetroFrontier’s Chairman of the Board, has agreed to act as President and Chief Executive Officer of the Corporation on an interim basis.
Annual and Special Meeting of Shareholders
PetroFrontier advises that the previously announced Annual and Special Meeting of shareholders proposed to be held on April 26, 2016 will be delayed to a later date but prior to June 30, 2016. Further particulars of the meeting date will be provided when finalized.
About PetroFrontier Corp.
PetroFrontier currently has in excess of $9 million in cash and no debt and has focused its attention on identifying and evaluating a range of options, which could include a recapitalization of PetroFrontier, a merger or other business combination of PetroFrontier with another entity or the sale of PetroFrontier as a whole.
PetroFrontier’s head office is in Calgary, Alberta and its common shares are listed for trading on the TSX Venture Exchange under the symbol “PFC”.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Robert J. Iverach, Q.C., ICD.D
President and CEO
PetroFrontier Corp.
Suite 520, 1011 – 1st Street S.W.
Calgary, Alberta, Canada T2R 1J2
(403) 718-0366
(403) 718-3888 (FAX)
info@petrofrontier.com
www.petrofrontier.com